World markets for grains and oilseeds

Published 2024년 12월 5일

Tridge summary

Soybean prices on the Chicago Mercantile Exchange have decreased due to favorable weather conditions in South America, enhancing crop prospects in Brazil and Argentina, and rising U.S.-China trade tensions, which have raised demand concerns. January soybean futures fell by 8 cents to $9.83-3/4 a bushel, while soybean meal futures increased and soybean oil futures decreased. Global export demand is shifting towards Brazilian soybeans, and the market is also affected by delays in U.S. tax credits for clean fuel production. Wheat prices saw a slight increase due to poor weather in Russia and Australia impacting crop quality, with expectations of a rise in Canada's wheat output. Overall, major crop prices have declined, with corn down 0.6%, soybeans down 0.8%, and wheat down 0.1%, as Statistics Canada is anticipated to report an increase in the country's wheat production to 35.04 million metric tons this year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Soybean prices on the Chicago Mercantile Exchange fell Wednesday as favorable weather in South America boosted crop prospects in Brazil and Argentina, while escalating U.S.-China trade tensions heightened demand concerns. January soybean futures on the Chicago Board of Trade fell 8 cents to settle at $9.83-3/4 a bushel. Soybean futures hit new lows from September 2025 through November 2026. January soybean meal futures on the Chicago Board of Trade settled up $1.50 at $291.90 a short ton. January soybean oil futures on the Chicago Board of Trade fell 72 cents to settle at 41.42 cents a pound. Recent rains in soybean producing areas of South America continued to support crop development. Forecasters have raised their forecasts for the Brazilian crop over the past week. “People are paying more attention to the weather in South America and seeing that things are good there, so it’s becoming harder and harder to lift the market,” said Jack Scoville, vice president at Price Futures ...

Source: Oilworld